Cheese Market demand, Drivers, Regional Outlook, Size, Share, Top Manufactures, Trends and Forecast 2027
Research Reports
Jan 09, 2023
Cheese Market Research Future Insights
According to market research future insights analysis, the global cheese market is expected to register a CAGR of 3.50 % from 2020 to 2027 and hold a value of over USD 155 billion by 2027.
The COVID-19 pandemic has hurt the world market, resulting in a reduction in supplies. Our analysis showed that the global market would decline by 1.38% in 2020. Due to increased demand for the product across all food service channels, the CAGR increased during the predicted period. Due to the growing demand for various types of cheese in various culinary products, this industry is expanding gradually. The increased popularity of fast foods like pizza, pasta, and hamburgers has increased demand for mozzarella, parmesan, and cheddar cheese. The demand for these products may increase over the next few years due to the food service industry’s rapid evolution and creative culinary preparations. Urbanization and a rise in disposable income are important driving forces in the cheese business. Families with more money are becoming more prevalent as the world moves toward a large increase in urbanization. As a result, shoppers make more trips to the store and spend more money on colorful items. People are turning to home cooking using items like cheddar, promoted as a healthy source of protein and fats, as part of a new wellness fad sweeping the globe.
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Regional Analysis
Europe dominated the market for cheese in 2021. The region’s thriving food and food service industries support the expanding need for various product types within these industries. Leading companies use clever marketing techniques to increase sales of processed cheese. Introducing small businesses is another factor contributing to the market expansion in the area. Consumers’ growing awareness of the product’s health benefits has forced key manufacturers to enhance processing capacity and meet rising demand.
North America is expected to register lucrative growth in the cheese market. This is due to the high demand for dairy products with clean labels and a sustainable supply. The segment growth is anticipated to be fueled by consumer preferences for buying natural, secure, and healthier items. In the upcoming years, increasing demand for non-GMO, lactose-free, organic, lactose-free, and plant-based cheese products is anticipated to drive market expansion.
Market Segmentation
The global cheese market has been segmented into the source, product type, and distribution channel.
Based on the source, the market has been segmented into animal-based and plant-based. The animal-based segment accounted for the largest share of the market in 2021. When compared to alternative sources, animal-based cheese is more readily available, which could promote segment expansion. Growing consumer acceptance of the organoleptic qualities of items derived from animals is another important element promoting market expansion. Additionally, animals have a higher capacity for producing milk than plant-based ingredients, driving the rise of the animal-based food market. On the other hand, the plant-based segment is anticipated to be the fastest-growing segment during the forecast period. Demand for plant-based cheese is anticipated to increase due to the growing popularity of vegan cuisine.
Based on product type, the market has been segmented into cheddar, mozzarella, parmesan, feta, and others. Cheddar accounted for the largest revenue share in 2021 in the cheese market due to its wide-ranging uses and inclusion in various cuisines and food products. Mozzarella was the fastest-growing segment. The use of mozzarella and parmesan has been encouraged by the expanding popularity of various Italian cuisines, including pasta.
The market has been segmented based on type: processed, natural, block, spreadable, and hard & soft cheese. The processed segment accounted for the largest revenue share in 2021 in the cheese market. The significant increase in its utilization of various processed foods is primarily responsible for the processed segment’s robust growth. Natural was the fastest-growing segment. Rise due to the growing popularity of clean-label products.
The market has been segmented based on distribution channels into supermarkets/hypermarkets, specialty stores, convenience stores, and online retail. The processed segment accounted for the largest revenue share in 2021 in the cheese market. Due to the industry’s quick change, investors can take advantage of customers’ comforts to offer pleasant purchasing experiences. According to data from the Food Industry Association 2018, supermarkets and hypermarkets accounted for approximately 43% of food sales in 2017. This is a significant annual product sale. Online was the fastest-growing segment because of easy accessibility.
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Key Players
Some of the key market players are Glanbia (Ireland), Arla Foods (UK), Fonterra (New Zealand), FrieslandCampina (Netherlands), Saputo (Canada), Dalter Alimentari Spa (Italy), The Kraft Heinz Company (US), BEL Group (France), Amul (India), DMK Deutsches Milchkontor GmbH (Germany), and Meiji Holdings (Japan).
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NOTE: Our Team of Researchers are Studying Covid19 and its Impact on Various Industry Verticals and wherever required we will be considering Covid19 Footprints for Better Analysis of Market and Industries. Cordially get in Touch for More Details.
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